Nykaa partners with IIMA to launch 'Nykaa Chair in Consumer Technology'

By

Isabelle Crossley

Published
Sep 28, 2022

Nykaa and the Indian Institute of Management Ahmedabad signed an agreement on September 27 to launch the 'Nykaa Chair in Consumer Technology'. Through the partnership, the multi-brand beauty and fashion business and the IIMA aim to develop consumer technology research solutions, Nykaa announced in a press release. 

“It’s a moment of pride for Nykaa and specially for me to launch a programme with my alma-mater, that focuses on consumer technology,” said Nykaa founder and CEO Falguni Nayar, Nykaa announced in a press release. “As the founder of an organisation that has harnessed the power of technology to disrupt beauty, and more recently the fashion market, I am convinced about its role in shaping the present and the future of Indian entrepreneurship. Through this chair at IIMA, we look forward to stewarding research and education by equipping students with foundational knowledge for building meaningful, insight-driven business models that use technology to solve for consumer needs.”
 
Falguni Nayar is an IIMA alumna. The chair has been set up for an initial time period of three years and is facilitated by the IIMA Endowment fund.

“Through our partnership with Nykaa, we aim to work together on finding research solutions to some of the immediate, real-time questions in the consumer tech space,” said IIMA director Errol D’Souza. “We look forward to bringing on board a talented, research focused individual to take up this position at the institute.”
 
The chair will work with IIMA students and faculty members to promote the scientific practice of marketing. The chair’s other activities will include research and education on topics such as AI and machine learning, measuring the role of the internet in consumer behaviour, and digital advertising. 
 
“The Consumer Tech industry in India is pipped to become a $200-$250 billion opportunity by 2025,” said the IIMA Endowment Fund’s CEO Chhavi Moodgal. “To reach its full potential, this sector needs dedicated research, assimilation, and propagation of best practices; and as well as guidance on usage of AI and Data Science, in which IIMA can be a thought leader. We would like to thank Nykaa and our alumna Falguni Nayar for this valuable contribution to the institute. This is the third chair being set up at IIMA courtesy the efforts of the IIMA Endowment Fund and we are delighted to bring such collaborations and opportunities to the IIMA ecosystem.”